By
Peter Mathers
of
Trading Lounge
Wednesday, October 5, 2022 5:31 AM EST
CSX Corporation, Elliott Wave Technical Analysis
CSX Corporation, (CSX): Daily Chart, October 5 2022,
CSX Stock Market Analysis: Moving as expected, at this point we are looking to see how wave{iv} is going to unfold. Given the fact that wave {ii} was sharp I will be looking for more of a sideways correction.
CSX Elliott Wave count: {iv} of C
CSX Technical Indicators:We are below all averages
CSX Trading Strategy: Looking to short on wave {iv} ideally the 20EMA(red line) will also turn into resistance.
(Click on image to enlarge)
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_csx_10_5.webp)
CSX Corporation, CSX: 4-hour Chart, October 5 2022
CSX Corporation, Elliott Wave Technical Analysis
CSX Stock Market Analysis: From this lower timeframe view it appears we have just started wave(a) of {c} and many times after a sharp wave (a) we fall into a sideways correction.
CSX Elliott Wave count: (a) of {iv}.
CSX Technical Indicators:We have just touch the 20EMA where we could start to pullback from.
CSX Trading Strategy: Looking for shorts from a significant Fibonacci level.
(Click on image to enlarge)
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_csx_4h_638005573052798962.webp)
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